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djyliett [7]
3 years ago
13

The minimum feasible​ long-run average cost for firms in a perfectly competitive industry is ​$27 per unit. If every firm in the

industry currently is producing an output consistent with a​ long-run equilibrium, calculate the marginal cost incurred by each firm and the market price. Marginal cost is ​$nothing and market price is ​$nothing. ​(Enter your responses as whole​ numbers.)
Business
1 answer:
Furkat [3]3 years ago
5 0

Answer: Marginal cost is ​$27 and market price is ​$27

Explanation:

In the long run, perfectly competitive industries make zero economic profit. This means therefore that Average cost will be the same as the Market price so Market price will be $27.

Firms in a perfectly competitive industry will produce at a rate where Marginal revenue will equal marginal cost in order to maximise profit.

In a perfectly competitive industry, firms are price takers which means that the Market price is also the same as the Marginal revenue. The Market price will therefore be equal to marginal cost which means that Marginal cost will also be $27.

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The balance sheet of Cattleman's Steakhouse shows assets of $85,900 and liabilities of $13,500. The fair value of the assets is
cestrela7 [59]

Answer:

$7,120

Explanation:

Given that,

Assets = $85,900

Liabilities = $13,500

Fair value of assets = $90,500

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Net assets:

= Fair value of assets - Fair value of its liabilities

= $90,500 - $13,500

= $77,000

Goodwill = Purchase consideration - Net assets

               = $84,120 - $77,000

               = $7,120

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2 years ago
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Schach [20]
If you put my info in this I could have answered this
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3 years ago
determine the payback period for an investment. evaluate the acceptability of an investment project using the net present value
Fantom [35]

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1 year ago
Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead
Ivanshal [37]

Answer:

The correct answer is option (b).

Explanation:

According to the scenario, computation of the given data are as follows:

first we calculate the predetermined OH, then

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= $451,140 ÷ 61,800

= 7.3

So, Applied MOH = 60,500 × 7.3 = $441,650

So, Underapplied OH = Actual MOH - Applied MOH

= $532,000 - $441,650

= $90,350 (under applied)

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3 years ago
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jolli1 [7]

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